Research On The Impact Of Demolition Compensation On Residents’ Venture Capital Behavior

In the past ten years,my country’s urbanization development has made significant progress.In the process of urbanization,the demolition households cannot be ignored.After the demolition,the demolition households generally get a fairly generous house demolition compensation.For some families,the value of the property that the demolition brings to them can even be compared with its lifetime income.Therefore,demolition compensation will have a great impact on residents’ real economic behavior.At the same time,my country is actively promoting the structural adjustment of the financial system.As the basic unit of society,residents promote their in-depth participation in the financial market,effectively convert residents’ savings funds into long-term capital funds in the capital market,thereby changing the financing structure with high proportion of indirect financing and small direct financing,and promoting the long-term capital market in the capital market Sustainable development is also a major measure that consistent with my country’s financial supply-side structural reform.Therefore,this article examines the compensation of house demolition as an unexpected large income,how to affect the investment behavior of residents’ risk assets,and whether it can effectively use this part of the capital to promote the development of my country’s capital market.Residents of demolition often consider the compensation for house demolition as an accidental income.The marginal utility is easily underestimated under the action of psychological accounts,which has led to a significant risk preference for the choice of financial assets in the choice of financial assets.feature.It can be seen that residents who have obtained compensation for demolition are more likely to participate in the financial market under the influence of profit-seeking motivation and risk preferences,and higher risk appetite will drive them to choose high-risk and high-yield asset allocation,that is,investment,that is,investment The proportion of high-risk assets in combination is significantly higher than the average level.In addition,personal financial literacy has an important impact on the decision-making of residents’ participation in the financial market.The different levels of financial development in various regions have also caused residents to have different investment decisions.Therefore,this article assumes that the compensation for house demolition has a positive impact on the investment behavior of residents ’risk assets.The level of financial literacy and financial development is used as the impact of the compensation of house demolition compensation to the residents’ risk asset investment behavior.Based on the theory of mental account and resource conservation,combined with the survey data of Chinese household finance,this paper makes an empirical analysis of the impact of housing demolition compensation on residents’ venture capital behavior.In this paper,the impact of relocation compensation on residents’ venture capital behavior is basically regressive.On this basis,financial literacy and financial development level are used as moderating variables to explore whether internal and external financial factors have an impact on the impact of relocation compensation on residents’ venture capital behavior.In the further study,the demolition compensation is subdivided into monetary compensation and housing compensation,and the influence of family property income and family housing wealth effect on residents’ risk investment behavior is explored.Finally,by year,region,age stage of residents and urban and rural areas,the study explores the heterogeneity in the process of demolition compensation affecting residents’ venture capital behavior.The results show that:(1)demolition compensation can significantly promote residents’ venture capital behavior.In addition,financial literacy and financial development level play a positive moderating role in the process of demolition compensation affecting residents’ risk investment behavior.When residents who have experienced demolition have higher financial literacy,they are more likely to invest in risk assets in order to maintain and increase the value of assets.When the relocated residents are in areas with higher financial development level,they are more likely to invest in risky assets under the influence of external environment.(2)This paper innovatively subdivides the demolition compensation methods into monetary compensation and housing compensation,and explores the influence of family property income and family housing wealth effect on residents’ venture capital behavior.The regression results show that the two methods also have a positive impact on residents’ venture capital behavior.(3)By year,region,age stage of residents and urban and rural groups,it is found that the process of demolition compensation affecting residents’ venture capital behavior presents heterogeneity.The above discovery not only enriches the relevant theories of residents’ risk asset investment,supplements existing literature,but also provides evidence evidence for the government and financial institutions to increase the supply and increase value of demolition compensation for the government and financial institutions to increase the supply of risk assets to promote the supply of risk assets.Essence Contents and conclusions in details are:...